Stock Market News and Analysis:

Benchmark Indices has marginal pullback in the last hour from its low points. A fall in crude prices, which slipped to around USD 79 per barrel is likely to have impacted the movement. Nifty closed just below 10,150 at 10146.80 and for coming session its key support is at 10100 while on higher side its key resistance is at 10250.

Headlines for the day:

  • BHELto consider proposal for shares buyback on October 25.
  • ITD Cementationbagged multiple orders for over Rs1066cr.
  • PNC Aligarh, a subsidiary of PNC Infratech submitted financial documents to NHAI for 4-laning of Aligarh Kanpur Section of NH91 for Rs1197 crore.

    Key stocks:
  • TVS Motor share prices closed 4.5% higher after the company reported Q2FY19 numbers that beat street estimates. Standalone revenue came in at Rs4,993 crore, up 23% yoy (20% qoq). Revenue surpassed the consensus estimate of Rs4,602cr. Revenue growth was led by 15% yoy (17% qoq) volume growth and 7% yoy (2% qoq) realization growth
  • RBL Bank share prices were trading down in the afternoon session even after the bank’s profit for the second quarter of FY19 meeting street expectations. The bank’s Q2FY19 NII has improved 41.1% yoy to Rs593 crore versus Rs420.2 crore in the corresponding quarter in FY18. The bank’s net profit was in-line with estimates, improving 35.8% yoy to Rs204.5 crore. Its GNPA for Q2FY19 was flat qoq at 1.4%. NNPA for the quarter came in at 0.74% against 0.75% qoq, indicating a decline of 1bp
  • Himachal Futuristic Communications Limited has secured an Advance Purchase Order worth Rs366.36 crore approx. from Bharat Sanchar Nigam Limited, New Delhi. The scope of work under the above contract inter-alia includes Survey, Procurement, Trenching, Supply, Installation, Laying, Testing and Maintenance of Optical Fiber Cables, Accessories and GPON Equipment in the State of Assam under BharatNet Phase-II Network of Government of India under Package AS-1
  • ITD Cementation India Limited Share prices were trading 1% higher after the company secured orders worth Rs1,066 crore from the Airports Authority of India, Vizhinjam Port, Visakhapatnam Port, Mumbai Metro, and Rail Vikas Nigam.
  • Hindustan Zinc Limited share prices declined 3% in the opening session on unfavorable global market conditions. The trade war between the China and US has failed to dissipate and has continued to escalate, impacting the price of industrial metals including zinc.
  • Asian Paints share prices tanked and were among the top losers in the morning session after reporting a disappointing set of numbers for the quarter ended September 2018.
  • Syndicate Bank stated that it has secured capital infusion of Rs728 crore from the government in lieu of preferential allotment of shares. The bank informed that the capital infusion has been made towards contribution of the Central government in the preferential allotment of equity shares during financial year 2018-19.
  • Calls for Tomorrow : 
  • CALL: SELL SBIN EQ BELOW 253.40 TARGETS 250.85/248.30/245.80 SL 255.95.
    Description: Stock heading towards its immediate support on daily chart and breakout is expected below253.40.
  • CALL: SELL HINDUNILVR EQ BELOW 970 TARGETS 960.30/950.60/940.90 SL 979.70
    Description: Stock heading towards its key support on daily chart and rally is expected below the mentioned level.
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Stock Market News and Analysis: Benchmark Indices has marginal pullback in the last hour from its low points. A fall in crude prices, which slipped to around USD 79 per barrel is likely to have impacted the movement. Nifty closed just below 10,150 at 10146.80 and for coming session its...
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